Posted on 11/03/2014
By Lora Mays, Product Marketing Manager
Companies can leverage integrated data to make informed decisions about space use, but the information can also be used to drive smart facility investments. Using a number like costs per employee or square feet provides another point of analysis to reference where you can cut costs and become more efficient.
The integration of space and occupancy management, lease administration, project management and facility maintenance management data enables companies to easily pull out key cost data points. This cuts down on time and room for error than the alternative of reviewing several reports in different formats to piece together an estimate. These include lease, construction, utilities and maintenance, which can provide a complete overview of total operating costs per facility.
By allocating the operating costs per square foot or by employee, organizations can understand the true costs associated with facilities. If there are distinct cost disparities between buildings or floors, the data can be further analyzed to determine why. In doing so, the organization can learn how to reduce the operating costs over time, whether it’s repairing underperforming assets, enhancing energy management systems or seeking a new facility altogether.
Prior to IWMS solutions, it was time consuming and difficult to review data from several departments, as they traditionally operated in silos. In the instance of space and occupancy management and lease administration, stakeholders can access key data points to analyze how decisions impact the rest of the organization – ultimately helping to drive profitability from the core of the business.
Accurately measuring your cost by space or employee to make informed facilities decisions is just one value that your organization can gain from an IWMS solution. Read out blog post Strategic Values of an IWMS Solution: Gain Visibility to Drive Facility Investments to learn about the first value in the series. Download the whitepaper The Strategic Value of IWMS to learn how your organization can drive profitability from your real estate and facilities portfolio.